I’m only going to highlight below one relevant point mentioned in the first half of the AMA, which lead me to ask Greg specifically about Automotive and Insurance, topics he will further elaborate on during the Q&A part. The first half of the presentation is a generic overview of Hedera Hashgraph and its well-known features, which most in the community are familiar with, so I’ll immediately translate the Q&A part instead."One thing I like the most vis-a-vis my job on a daily basis, is the fact I spent a lot of time in Telecommunications, I was a bit verticalized, I was a bit specific to that domain, and now I’m really exposed to all industries, whether it’s the Automotive, whether it’s Insurance, and you can imagine all the usecases that could exist, it spans all industries and it’s super interesting" Greg Scullard min 9:00
Beginning of Q&A at min 29:20Question: Can you elaborate more on the token economy in Hedera?
Answer: Yeah, sure, but beforehand and as discussed, I’m not going to go into the speculative aspect.
Hbar exists for 2 reasons, the first is to pay transaction fees, the operation fees on the network, so someone who wants to create a token or wants to exchange Hbars with someone else has to pay the operation costs in Hbars. So that’s the first reason, the second, consequently, is that this allows as well for securing the network simply because the Hashgraph consensus, once it determines an operation, doesn’t calculate the number of nodes but determines the weight of that node in Hbars.
So currently, the Council Members are the only ones elligible to operate nodes, said otherwise, the 50 Billion existing Hbars are nominally distributed and divided equally between these nodes, s...